Posted On: August 15, 2008, 9:34 am CDT

Posted By: How True

Obviously SF wouldn't be in business if it wasn't trying to make money--it's not a philanthropy! Some insurance insiders act like they insurance cos exist to provide a service, but that mentality is long gone. At this point, it's the executives that run the company that get compensated for strong premium growth, combined ratio, net income, etc. That being said, Florida clearly is a high-risk state and it's hard to believe that a rate increase isn't warranted to some degree (ask a dozen actuaries and you'll get a thousand answers on that point). Danny has it right--let them increase rates. Their service sucks anyway, they have a culture of denying claims, so let the word get out and see the people walk away in droves. The whole "Good Hands" motto is total BS. SF is like any other major corporation--looking at their top and bottom line (forget what insurance lines they actually write--they are in business to make money, period). Yes, it's a mutual company (although maybe not in FL?), which is supposed to create incentives for prudent management, as insurereds are owners, but what voice do they have? None, except their pocketbooks. You want to make your voice heard by SF? Take your money elsewhere.

And lay off the ad hominem attacks, it's just childish...